The Effectiveness of External Auditing in Monitoring NGO Resources in Balanga Local Government Area
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- NGN 5000
Background of the Study
Non-Governmental Organizations (NGOs) play a crucial role in driving development and providing essential services in communities, particularly in areas with limited governmental presence. However, the financial management of NGOs is often subject to scrutiny, given the reliance on donor funds and grants. To ensure accountability and transparency in the use of resources, external auditing is a critical practice. In Balanga Local Government Area, the effectiveness of external auditing in monitoring NGO resources has been questioned due to reported cases of financial mismanagement and inefficiency in resource allocation. This study will evaluate how external audits contribute to ensuring that NGO resources are managed effectively.
Statement of the Problem
Despite the growing number of NGOs operating in Balanga, there have been concerns about how these organizations manage donor funds and other resources. The lack of stringent auditing processes has resulted in resource misallocation, fraud, and inefficiencies. External auditing is often considered a mechanism to promote transparency and accountability, but its effectiveness in Balanga remains unclear. This study aims to assess how external auditing impacts the management of NGO resources in the area.
Aim and Objectives of the Study
The aim of this study is to evaluate the effectiveness of external auditing in monitoring NGO resources in Balanga Local Government Area.
The objectives are:
- To assess the effectiveness of external auditing in ensuring accountability in the use of NGO resources in Balanga.
- To examine the challenges faced by external auditors in monitoring NGO resources.
- To propose recommendations for improving external auditing practices in NGOs in Balanga.
Research Questions
- How effective is external auditing in monitoring NGO resources in Balanga Local Government Area?
- What challenges do external auditors face when monitoring NGO resources in Balanga?
- How can the effectiveness of external auditing in NGOs be improved in Balanga?
Research Hypotheses
- External auditing plays a significant role in promoting accountability in the use of NGO resources in Balanga.
- There are challenges that hinder the effectiveness of external auditing in NGOs operating in Balanga.
- Improving external auditing practices will enhance resource management and accountability in NGOs in Balanga.
Significance of the Study
This study will provide valuable insights into how external auditing can improve transparency and accountability in NGO operations in Balanga. The findings will guide the development of more effective auditing frameworks and strategies to address resource management challenges in the NGO sector.
Scope and Limitation of the Study
The study will focus on NGOs operating within Balanga Local Government Area and the role of external auditing in monitoring their resources. Limitations may include access to NGO financial records and cooperation from auditing agencies.
Definition of Terms
- External Auditing: The independent review of financial records and operations by an external party to ensure accuracy and compliance.
- NGO Resources: The financial, human, and physical assets used by Non-Governmental Organizations to carry out their mission.
- Accountability: The obligation of organizations to justify their actions and decisions, particularly regarding resource utilization.
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